12 Aug, 2024

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12th Aug,24

Nasdaq 100 looks for more gains

 

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​Dow claws back losses

​A bullish view prevails here too, after the index rebounded from the lows of the week around 38,500.

​A close back above the 50-day SMA would help to bolster the bullish view, and open the way to 40,000 and higher. Sellers will need a close back below 39,000 to suggest a retest of the recent lows.

 

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​Dax pushes higher

​Having nearly hit 17,000 last week the index has recovered well, moving back above the 200-day SMA.

​It has recovered the April low, and now looks poised to test 18,000. A close above this helps to support a view that the index will retest the July highs. Sellers will want to see a close back below 17,500 to put it back below the 200-day SMA.